Get Rich Education

#57: Keith comes to you from Little Rock, Arkansas today.

Our guest is Old Capital Lending’s Michael Becker of Dallas, TX, to tell us about originating Multifamily Apartment Building loans.

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Listen to this week’s show and learn:

01:05  Keith is in Little Rock, Arkansas this week for an investment real estate tour.

04:53  Michael Becker of Old Capital Lending appears.

06:50  Single Family Homes vs. Multifamily Apartment advantages / disadvantages.

08:57  Recent happenings in this lending space.

10:20  Loans for 5+ unit residential property are called commercial loans.

11:55  Multifamily commercial loans are primarily qualified by the asset, not the borrower.

15:48  Residential 1-4 lending is like a formulaic science; multifamily commercial 5+ is closer to an art.

17:48  Debt Service Coverage Ratio (DSC or DCR). 1.25 minimum is typical.

19:00  How much liquidity do you need for a multifamily loan?

21:12  Borrower credit scores.

24:10  Loan duration.

26:08  Balloon payments, Pre-payment Penalties, Assumable Loans.

29:26  Recourse vs. Non-Recourse Loans. “Bad Boy Carve Outs.”

31:26  Can you buddy up with friends to buy a big apartment building together?

34:38  Qualifying for multifamily property loans out-of-state.

35:49  Higher closing costs for apartment building loans

39:32  How many states does Old Capital lend in?

Resources:

OldCapitalLending.com - Multifamily / commercial lending.

SPIAdvisory.com - Michael Becker’s syndicating company.

MidSouthHomeBuyers.com or call (901) 217-4663 for Top-Notch Turnkey Rental Properties.

NoradaRealEstate.com or call (800) 611-3060. Your Premier Source for Turnkey Cash-Flow Investment Property.

GetRichEducation.com - that’s where to subscribe to our free newsletter, receive turnkey real estate webinar opportunities, and see all Events.

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Direct download: GREepisode57.mp3
Category:general -- posted at: 4:00am EST